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eToro is a veteran Forex broker that was founded in 2007 under the name RetailFX in Israel. This brokerage is one of the pioneers of social trading, and in 2020 the company announced that over 8,000,000 accounts had been opened at eToro. eToro has attracted over $162 million in funding and has thrived by offering cryptocurrency trading options that most other Forex brokers don’t offer. eToro released its cryptocurrency wallet in 2020 and followed through with the acquisitions of Dutch blockchain company Firmo and Belgian crypto portfolio tracker app developer Delta in 2020. It claims to operate in 140 countries and has over 11,000,000 active users to date, which makes it the largest social trading platform and Forex brokerage in the market.
Unfortunately, we had no way to verify those claims during this eToro review. In 2020, eToro was valued at $800 million. Technology fulfills a critical role at this multi-asset brokerage, and it remains an interesting one to monitor.
Regulation and Security
eToro’s main headquarters is located in Tel Aviv, Israel. This brokerage operates from regulated entities out of Cyprus, the UK, Australia, and the US. eToro Europe operates under the Cyprus Securities and Exchange Commission (CySEC) jurisdiction under license number 109/10. As a result, it is exposed to the Financial Instruments Directive 2020/65/EU or MiFID II and the EU’s 4th Anti-Money Laundering Directive. Per EU Directive 2020/49/EU, traders are protected by the Investor Compensation Fund (CIF) with maximum coverage of €20,000.
eToro UK is authorized and regulated by the Financial Conduct Authority (FCA) under license 583263. Traders enjoy the protective scheme of the Financial Services Compensation Scheme (FSCS), up to £85,000. eToro AUS Capital is authorized by the Australian Securities and Investments Commission (ASIC) under Australian Financial Services License 491139. eToro USA is registered with FinCEN.
Client accounts are segregated from company funds, as stipulated by regulatory requirements. While eToro remains fully compliant with all its regulators, it was fined €50,000 by CySEC due to structural operational weaknesses in 2020. Quebec blacklisted this broker in 2020 as an unauthorized foreign company because eToro marketed binary options trading through its platform to Canadian citizens. Despite a few regulatory missteps, traders may trust this brokerage. All required documents are published on its website, and transparency is taken seriously.
CySEC is the primary regulator for eToro, covering the majority of its traders.
eToro remains regulated by CySEC, the FCA, and ASIC.
Spreads (no commissions are charged) on over 2,000 assets comprise the majority of trading fees at eToro. The spread for the EUR/USD is listed as 3.0 pips, but the AUD/USD is listed as low as 1.0 pips. These fees are considered high for the industry but considering that eToro offers social trading services not offered by other brokers, the cost may be justified, if not at least understandable. The fee structure increases for equity CFD trading, which we found unnecessary and frankly, surprising during this review. The spread is fixed at 0.09% of the price, but financing costs make this asset class less than ideal for trading at eToro.
eToro is considered a market maker. Swap rates on leveraged overnight positions add a solid revenue stream to this broker. The precise fees for each asset may be obtained from the trading platform. Corporate actions like dividends and mergers will be credited or debited from eToro accounts, depending on the direction of the impacted positions. A $25 withdrawal fee applies which is often waived by other brokers.
eToro also levies a $10 inactivity fee per month on dormant accounts.
What Can I Trade
eToro over 2,000 assets, a very impressive range that is not found at most other Forex brokers. eToro covers the Forex market, ventured into the cryptocurrency markets, and allows diversification through commodities. It additionally provides traders a broad choice of equity CFDs, enhanced by index CFDs, and completed by ETF CFDs. The overall asset selection is comprehensive, allowing traders to diversify portfolios properly. Spreads on currency pairs remain on the high side but not overly unreasonable compared to the value of the social offering. Commodities and cryptocurrencies offer more competitive advantages in terms of fees.
Equity CFDs are commission-free, but financing costs do exist.
ETF CFDs are priced a bit on the high side.
Cryptocurrency CFDs are where eToro shines, with a great selection and costs which are competitive.
eToro presents the same CFD account to all retail traders, but the most significant difference is the regulatory environment. This broker operates under CySEC, FCA, and ASIC jurisdictions, and each provides a different protective scheme. A professional account is available for traders who qualify. Traders may request an Islamic account, but a minimum deposit of $1,000 applies. The Islamic account comes with reduced overall trading costs and allows traders to access all assets.
The minimum deposit is listed as $50.
The identical CFD trading account is provided to all retail traders. Qualified traders may request a professional upgrade to an account with better trading conditions.
eToro is extremely proud of the proprietary webtrader platform that it offers traders. The trading platform fully supports eToro’s CopyTrader, and CopyPortfolios, social trading opportunities that are the main focus of eToro’s offerings. The platform is enhanced through TipRanks, granting traders insights from over 15,000 analysts covering equities. ProCharts enables manual traders to conduct technical analysis. Basic trading features are similar to those at other platforms, and we were delighted to see during this eToro review that the broker’s proprietary platform offers a cleaner interface as compared to MT4.
A serious downside of the eToro platform is a lack of support for autotrading systems. Social trading, however, is executed thoroughly at eToro, which can provide a solid alternative to autotrading, though it should be understood that each of these trading styles has advantages and disadvantages and that they aren’t necessarily interchangeable. eToro is one of the only Forex brokers we’ve reviewed that has shunned the MT4 platform entirely, and sidestepped all of the benefits that this popular platform offers. That being said, new traders may not notice this omission since the eToro platform is so comfortable to use.
CopyTrader and CopyPortfolios are features deployed by eToro to attract new retail traders to eToro’s unique trading environment. CopyTrader allows users to allocate a portion of their capital to copy others. Each trader maintains full control and may exit positions at their discretion. CopyPortfolios provides similar services but allows traders to copy portfolios which are similar to mutual funds or other bundles of assets. eToro claims that copied portfolios are professionally managed by its investment committee.
Another unique feature provided by eToro is the Popular Investor Program which offers an additional revenue stream to social traders who attract a solid base of followers and have ample assets being traded. Simply put, Popular Investors can make money by generating volume from their followers, as well as enjoying profits from their own trades.
Social traders who expand assets under management will benefit from the Popular Investor Program.
Research and Education
In-depth research is not provided in-house by this brokerage for regular traders, but equity ratings are available via a partnership with TipRanks. A “Daily Market Review” is published, featuring a quick overview of assets with a sentiment analysis based on eToro portfolios.
eToro’s “The Complete Guide to FinTech” provides basic educational content for new retail traders. eToro also manages a blog, covering topics related to trading and company-related topics. Broadly speaking, the outsourced research offers traders the best feature at eToro. That being said, perhaps education isn’t a focus for eToro since most traders are there to copy others, not to learn about the markets on their own.
While customer support is a feature most traders will never require, a good brokerage will make it is easy for traders to connect. At eToro, the bulk of the support is attempted through its Help Center. It includes an FAQ section and an option to submit a help ticket. Clients may also call eToro directly or engage via live chat, which is available 24/5, as is industry standard. According to a blog post published by this broker in 2020, the most convenient form to get support is via OpenBook, where the response time is noted as a few hours.
Bonuses and Promotions
The eToro Club grants special features to traders and has five tiers. Membership for each tier is dependent on the equity value of the portfolio. The Silver tier is granted for deposits from $5,000, Gold from $10,000, Platinum from $25,000, Platinum Plus from $50,000, and Diamond from $250,000. In-house research is available from the Platinum tier. While each account type is the same democratized account, higher deposits are required to be properly served by this Forex broker. A refer a friend program is listed, but no monetary compensation provided.
Opening an Account
Per the standard operating procedure across the brokerage industry, new applications are processed through an online form. At eToro, this process should take less than one minute to complete. The first step will take new clients to the back-office where accounts need to be verified, per regulatory requirements. A copy of the trader’s ID and one proof of residency document will satisfy KYC and AML requirements. Due to the sound regulatory environment, traders may fully trust this broker with their personal information as well as deposits.
Deposits and Withdrawals
eToro traders have a broad range of deposit and withdrawal methods. They include wire transfers, credit/debit cards, PayPal, Neteller, Skrill, Webmoney, Yandex, Rapid Transfer, Klarna/Sofort Banking, and China UnionPay. Not all methods are available to all traders (options seem to vary depending where the trader lives) processing times range from instant to seven business days, and fees vary. Available currencies, as well as maximum deposits, are dependent on the payment processor. Unverified accounts may deposit up to $2,250.
Withdrawals are charged at $25 each. Per regulatory requirements, the name of the payment processor must match the name of the eToro account holder. Overall, the payment options at eToro are great, as expected from an established Forex broker.
- Broker’s Name : eToro
- Headquarter : Cyprus
- Regulation : CySEC, FCA, ASIC
- Type of Broker : Market Maker
- U.S. Clients Allowed :
- Minimum Deposit : $50
- Maximum Leverage : 1:400
- Commissions / Spreads : Spreads
- Account 1 : CFD
- Account 2 : Professional
- Demo Account :
- Islamic Account :
- Segregated Account :
- Managed Accounts :
- Institutional Accounts :
- Deposit Options :
- Withdrawal Options :
- ETFs :
- CFDs :
- Commodities :
- Metals :
- Stocks :
- Oil :
- Gold :
- Binary Options :
- Indices :
- Type of Platform : Proprietary platform
Pros and Cons
- Extensive Social Trading Features
- Practice Account
- Highly Regulated
- High Spread
Can you make money with eToro?
It is certainly possible to make money with eToro. At the time of updating this review, eToro reported according to regulatory requirements that 25% of their retail investor accounts were making money when trading CFDs.
How Secure is eToro? Is eToro regulated?
eToro is regulated by the Cyprus Securities and Exchange Commission (CySEC), the UK Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC). It is additionally registered with FinCEN in the US.
How do I withdraw money from eToro?
You can withdraw money from eToro by clicking on “Withdraw Funds” in the left-hand tab and then following the instructions given to execute a withdrawal of your funds.
Where is eToro based?
eToro is headquartered in Tel Aviv, Israel, but traders are served from regulated entities in Cyprus, the UK, Australia, and the US.
How does eToro make money?
Excessive spreads and financing costs on over 2,000 assets represent the biggest revenue stream for eToro. Unreasonable withdrawal charges add to the profitability, while this broker profits directly from clients’ losses due to its market maker model.
How can I deposit into an eToro account?
eToro supports wire transfers, credit/debit cards, PayPal, Neteller, Skrill, Webmoney, Yandex, Rapid Transfer, Klarna/Sofort Banking, and China UnionPay.
What is the minimum lot size at eToro?
The minimum transaction size for currencies, commodities, and indices is $1,000. Cryptocurrencies can be traded from $25, equities from $50, and ETFs from $500. Those amounts are listed at eToro for traders who use no leverage.
When does a margin-call take place at eToro?
When the equity margin level drops to 50%, a margin call is issued.
What is the maximum leverage offered by eToro?
The maximum leverage is 1:30 for retail clients, but each asset has its requirement. Professional traders may receive up to 1:400.
How do I open an account with eToro?
eToro has an online application form, which is the standard operating procedure.
What trading platforms does eToro offer?
eToro merely provides its proprietary webtrader, tailored for social trading but unfit for automated trading solutions.
eToro is home to over 11,000,000 traders and has established itself as a leader in social trading since its inception in 2007. Two acquisitions in 2020 in this sector express the desire to become a leader in this emerging market. On the surface, this brokerage seems exceptional, with operational statistics supporting a well-managed company. The cross-asset selection is good with over 2,000 assets across six categories. The area where eToro provides its biggest advantages is in the cryptocurrency market, where eToro really offers unparalleled offerings.
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One downside of eToro is the lack of MT4 availability, but the broker’s proprietary platform offers a user-friendly interface that is great for new traders. eToro is proud of its social trading platform and claims that as of June 1st 2020, 73% of 124 million copied trades have been profitable, though we could not verify this claim during our eToro review.
Traders who wish to use social trading at eToro need to provide a minimum deposit of $200, Islamic accounts are available from $1,000. Overall, eToro is a solid broker that is ideal for two main types of traders; new traders looking to copy others and replicate their success, and experienced traders looking to leverage their knowledge as a Popular Investors to earn extra money. If you fall into either of those categories, you should definitely give eToro a try.
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This looks interesting, i think i will give it a try. thanks
I am interested in speaking with anyone hat has made money following other traders. Not someone that has actually made money trading themselves, but has actually made money consistently by following and copying other traders.
Is there someone out there, because I would love for you to come forward if so.
Recently filed complaint with CySEC due to etoro asking for security code information by email. Had sent copies of documents for payout, they confirmed receipt, then asked for all my cvv code info and security info from back of my card even though they said it wasn’t necessary. They refuse to pay me my money now including my deposits and profits. Will keep informed. Trading was fine, made money, just their platform doesn’t work all the time ( example the news feed) So I want to trade elsewhere. Please just pay me.
I think this etoro review makes everything seem so straight forward and rosy. It’s never so good. There are always things that can go wrong with trading and the etoro review is just too good to be true.
I just reread the etoro review and was quite impressed with all the features. I’ve been trading forex for a long time and found the etoro review very informative. Thanks, guys.
Listen you guys, no broker is perfect and etoro forex is one of the better companies out there. Trust me, I’ve tried 5.
I tried using the etoro webtrader and it really didn’t help me very much. In fact, it was really confusing and I wouldn’t use it again.
I love reading all these comments. Some people just like to hear themselves talk. People like to criticize all the time and say bad things. If you have bad things to say about something, just don’t say it.
Yah, but it really does cover we need to know about etoro forex. What do you expect from a review–it always seems to make things sound great but etoro forex really is pretty good.
I’ve been using etoro for several years and I do think it’s better than other online brokers. It has never steered me wrong and I like it a lot.
I don’t think etoro is any better than other brokers. There’s really nothing great about it. It’s ok and sometimes it works but not always.
I found etoro USA to be very efficient. It is also convenient to have etoro USA as my local broker because I don’t have to go out of the country to do my trading.
etoro’s webtrader is great for new traders. If I didn’t have etoro’s webtrader to help me, I don’t know what I would have done.
Etoro’s openbook is the best trading platform I have ever used. It has got to be the greatest social trading platforms ever created. Through etoro’s openbook I can see what other traders are doing and copy them. I just hope they know what they are doing.
No you can’t. You can’t turn off etoro openbook. It has to stay open to everyone. I’m sure of that.
You’re so stupid. If you don’t want everyone to see you trading on etoro’s openbook, you can shut off your screen. I know this is possible.
I’m not so happy with the etoro openbook platform. Why do I want to know what other traders are doing? And I don’t want them knowing what I am trading. Maybe I am doing the wrong moves and then they will see and copy me. I like etoro or trading, though. It’s not a bad company
Yes, Etoro sucks !!
There are lots of issues with it !!
There webtrader is too slow and un resonsive :@@
Even when you want executed your trade .It will not execute fast as you will want
Come on stop spams. We all know that eToro is the Best but of course if we do not trade properly then we lose and we have to blame some one!
come on be honest people!No company give the support eToro gives!if you cannot withdraw money then simply send your documents because eToro does not accept scammers!
if you lost money then shut up!
ifyour account manager did not help yoo then ask to change it but the new one will notTrade for you it is your skills that will help you!
If you do not have skills then copy the besty traders because 15 000 people Copying Nmarijus or waleed0987 or Moksel cannot be Wrong!
Just do not sit there and play it clever because eToro Rocks!
Maya, I’ve never heard of anyone getting charged for a demo account. You shouldn’t have to give in your information to open one, so how/why would they charge you?!
Will I be charged already if I use the demo account?
You guys are all full of crap. I’ve been trading with eToro for 3 years, never had a single problem – you’re probably just pissed because you lost or because you can’t figure out how to use a Forex brokerage. I read a ton of eToro reviews before signing up, and found most of them to be accurate – and most people do have positive experiences with eToro. Just get your account manager to help, and practice before you invest, and you’ll be much better off.
SCAM SCAM SCAM!
Last week and this week was a bad week for traders and just like most traders i made wrong trades and i took risk with 50% of my account. but i was ready to deposit more money if the market goes against me. so euro and australian dollar drop 400-500 pips, so my account was left with 10% of my balance, so i try to deposit more money, but when i try to pay with my visa card, i get message that talk to support.
i get support and they say i have to send my passport copy and utility bill and they review it and then i can deposit money, but the first time i deposit money without any documents, they only ask for registering online and pay with visa, no document nothing.
so i asked the support person first time i had no problem depositing money and now that my account is wiping out , etoro is asking for document and by the time etoro review my document and allow me to deposit money my $2000 account will be zero. they say this is company policy.
so when they get a chance to destroy you they will, i will never trade with them again and i thought i should share this with fellow traders.
very bad broker, and scam artists, not let me withdraw my money. they say problems with my paper work and this broker never ask for paper in the start. no other broker do this. everyone ask for paper in the start. but this broker dont want to pay anyone and believe that no one can withdraw money. so they ask for documents when you ask for withdraw. and i want my money and i send them document. they say i can not get my money back . and no problem with my paper. 4750 Euros. if you have 200 Euros and up look some where else.
Their stoploss is fixed. This is the worse this that a trader can experience. You would loose everything when you wake up on the following morning.
The platform is nice and easy to use, and the advanced chart option is good as well. But there are also a few problems with etoro which made me look for a better and more reliable broker: 1. their system can lag quite badly when there is heavy movement in the markets. Have tried several times to execute a trade, and then it moves 10 pips before it is actually traded, which can ruin the potential profit from the trade. Sometimes I have also had problems closing a trade, and had to wait for several minutes for the system to work. 2. their support is really bad! When you complain about the lags, they tell you that the are not the market makers, as if I am stupid or something, and at best, they apologize but there is nothing they can do. 3. sometimes their charts and data stop updating, without telling you so. Then when it updates again, it can move significantly one way or another. 4. you cannot have advanced graphs and trades in the same window. 5. I also often get kicked out of the system without being able to log right in again. At first I thought all the connectivity issues could be my internet connection, but I´m using a 20Mbps dedicated line, and all other pages I have tried while etoro.com is lagging, works just fine.
I have used etoro for a short time with their practice account and I had the worst online customer service session possible with some Natalie character who acted like questioning some of their methods made me stupid. I just tried to ask a few simple questions such as having more than 1 practice account to try different trading methods, can I reset my practice account, can I close my account . and the answer was NO to everything and the tone of the answers was very arrogant. I tried to get another person on live support and kept getting the same Natalie who right away made some smart-ass remark when I said I wanted to talk to someone with someone else . just terrible!
I have used etoro for about 7 months now, made some early losses but now made trading history is 98.6% in profit, so its not bad, i do have some glitches to report that people might not quite understand as I don’t always explain them well, but they are a little annoying at times. 1. their servers can be slow to respond, in a fast market when things are moving quickly you want to open or close quickly, it seems the busier the movement in currency pairs the slower their servers respond and you can miss optimum open and closes 2. they take FIVE, yep 5 pips on a gpb/usd trade, most are 3, I have asked them for an improvement in this, I am a VIP member with them and 5 pips is taking the michael! 3. you have to open trades in defined brackets, i.e. you can open a trade with $100, $200, $400, $5k, $10k etc, trouble is, if i have say $8,970 I have to settle for a $5 trade rather than one of my chosing. this is real annoying, the other money just has to sit there not earning its keep 4. its the same with take profit and stop loss, its pre-defined, you can alter it once the trade is open, but, i use a lot of automated trades and when setting up an automated trade you dont have much control over this, which is just crazy, so for instance i place an x10 order of 10k at 1.6000, in the night it hits this 1.6000 and opens, now i quite often like small short trades and happy with take profit of $200, but, with the platform you can only take profit of 25% of your open position, which on an x10 10k trade is never likely to happen, if i could set the take profit to what i want chances are the trade opens and closes in the night and i wake up to money, this i love so, there weekend hold over fees are quite expensive as well, not sure if there are any that do it for free, unlikely but I am looking. They also offer a mobile platform now that i have wokring on my android phone, its good, not quite as good as desktop app but not bad, it does force close quite a bit. they aint bad, but, they have silly userability issues that annoy me, i am trying to work with them on these
The etoro is pathetic in terms accepting error at their end. Their reason is always – Its technical issue and we can’t help. Like I lost my all amount put on one trade because it was closed as stop loss was wrongly executed by etoro. On providing screenshot that the stop loss rate never reached their reply – “We can’t be always accurate in Stop loss. Its technical issue and can’t help”. There are other issue with copy trade feature. If trader close in loss position, your trade will not always close and may subsequently lead to loss if untracked because you thought its copy of other trader. I think, all features are sort of gimmicks and etoro is pathetic broker for retail users.
Nice post! eToro offers different payment options including PayPal , Neteller, which is very convenient to deposit into his/her account and make fast withdrawals.
etoro, is a newbe trader. the STOPLOSS IS FIXED. THAT is for all people lose all your money. look, study and you will understand all i telling you. use etoro demo account, for learning uses, but dont open a real account. u will lose, study what mean the stoploss and what mean the stoploss is so close to your trade.
Dr Shaun Hutchinson
I have started using eToro now for about 3 weeks. I have never traded before and never used any other brokers. All I can say based on my experience with eToro and from what I have read online, is that I am glad that I am using eToro. I can see why World Finance Magazine voted them most innovative trading platform in 2020. I have only one issue with their platform, and that is their charting functions. So I use Metatrader 4 instead. Besides I think using independent charting helps to keep tabs on eToro and act as a control so to speak. Otherwise I do think eToro is doing a brilliant job, and I have no complaints.
I don’t know what you’re talking about, I’ve been trading with eToro for a long time now and it’s excellent, the software, the execution, the service everything. sounds like someone can’t handle a few losses.
I lost few goods positions (crashing when changing stop loss or freezing (too) long seconds to validate an action . ) Theirs servers are slow, we know it, they know it. But the application should manage that. I mean a server not responding is one thing, but an application that crashed because server is not responding is another thing. Even more for forex trading. But this interface is a nice effort ! And i’m sure that developers are working on that timeout prob, at less it’s what i would work on.
After discussing the issue with my account manager at eToro, I came to the conclusion that it was all a misunderstanding. eToro’s support checked what I sent them and showed me that a part of it was due to technical problems on their side and a part was because of my side. eToro took responisibility for the technical problems on their side and compensated me for the amount that was lost because of the technical issues. I thank my account manager for his help on this one and I have to say my impression of eToro improved because of this story. I saw that their support department is helpful and together we solved the issue, however, not as quick as I expected. I would say after all this, eToro was willing to help, for which I will continue trading with them. PS: Jack Daniels, I get the impression you are from eToro. Anyway, either if you are or if you aren’t, please dont take a whack at anyone and reply like that. If you have any honest review about eToro, do that without calling others names. DONT EVER talk to somebody like that. All are humans, and everyone has freedom of speech without hurting an individual.
that’s bulls##it man, you probably lost some money on trades and now you’re trying to blame them. if the progrma is stuck, what good will it do you to stay glued to the screen? that won’t help! you probably went against the direction and lost everything, take responsibility for your trades and don’t try and blame the platform.
eToro Review 2020 – Reviews, Tutorial, Pros and Cons. Our comments.
eToro (full name was “eToro – Your Social Investment Network”), is undoubtedly one of the most recognized names in the forex broker industry. As a forex trader, there is no doubt that it will pop on to your radar as a potential broker of choice.
This is particularly true if you want to engage in social trading by copying or replicating other people’s trades. Here, eToro is at the very top of the game. Beyond this, they are also known as a great broker for crypto assets trading and CFDs. They boast more than 7 million users around the world and some of the best top-tier regulation possible. In all, this makes them very trustworthy and a top, reliable broker.
Through this eToro review, you will learn everything you need to know to make the best choice about your forex trading future with eToro
eToro review: Security
It is true that there are many scam forex brokers in the industry. This means you need to be as careful as possible when choosing your broker. Luckily, eToro does not fall into this category and has top security measures and regulation in place.
Foundation and Offices
Mentioning regulation, you should know that eToro are very well regulated and hold several licenses from the top-tier financial regulators. They also have a physical presence in many countries around the world. This includes hundreds of staff in a variety of offices in the following locations worldwide: Limassol , London , New Jersey , Sydney, Shanghai.
eToro is comprised of four main companies that operate worldwide. These are as follows:
- eToro (Europe) Ltd, a Cyprus based investment company, with registration number HE20058. eToro Europe is regulated by the Cyprus Securities & Exchange Commission (CySEC) with license number 109/10.
- eToro (UK) Ltd is authorized and regulated by the Financial Conduct Authority (FCA) with company reference number 583263.
- eToro AUS Capital Pty Ltd is authorised by the Australian Securities and Investments Commission (ASIC) to provide financial services under Australian Financial Services License number 491139.
- eToro USA is operated by eToro USA LLC, which is registered with FinCEN as a Money Services Business.
In addition to being well-regulated by some of these top-tier authorities in the sector, eToro is also ESMA compliant and regulated in almost every European country. Thanks to this wide-ranging regulation, eToro is available to traders in almost every country of the world including the United States.
In the United states there are some additional limitations when it comes to trading. If you are a US resident who wants to trade with eToro, then check out our post and tutorial for the brand new eToro USA.
|Open Your Account!|
|Open Your Account!|
|Open Your Account!|
|Founded in:||2007 year|
|Offices in the country:||United Kingdom, China, Russia|
|Minimum Deposit:||50 $|
|Execution model:||NDD, STP|
|Mobile trading:||iOS, Android|
|Types of offered accounts:|
- API capabilities
- Web-based platform
- Guaranteed stop loss
eToro Forex broker description
E Toro is a forex trading company with a strong online presence. It was established in 2007 and has been in the game consistently for over a decade and continues to carve a niche for itself in the world of forex trading.
E Toro has two trading accounts that are specially designed to suit clients trading needs with the major aspect being experienced. These accounts are the retail and professional trading account.
The E Toro Retail Account
This is the basic or standard account type that is found on this trading platform. It is designed to suit the needs of every client both the novice and the experienced. The following are the perks that a client will accrue from having this account.
- Access to a vast range of trading assets from shares, stocks, cryptocurrencies, indices, and commodities among others.
- Negative balance protection.
- Clients with this account are covered by the investor compensation fund in case of liquidation of the firm’s funds.
- Clients can trade either manually or copy trade.
The E Toro Professional Account
The E Toro professional account is another type of account provided by the trader to its clients. Just like the name, this is an account designed for professional traders who have experience in trading and are willing to stake large amounts of cash in their trade execution. To have this account, a client will have to apply for it on their online platform and if the client meets the set criteria, he or she will be able to get the professional account.
Among the many benefits that come with this account type include:
- No restrictions on using leverage.
- Negative balance protection.
- High leverage trading.
- Professional account holders incur no charges on withdrawal of funds from their accounts.
The Company. Security Of Funds
E Toro as earlier indicated has been in the trading business for over a decade which has been characterized by the growth of this firm. E Toro prides itself in being among the first forex traders to have a social trading platform that has a big hand in making it a success.
Over the years E Toro has made a decent name for itself and has been able to penetrate various markets worldwide making it a global brand. Founded in Israel, it has crawled its way to have headquarters in Cyprus, London and also in Tel Aviv. This has enabled it to have clients worldwide and the numbers continue to grow at a very steady rate.
E Toro has managed to invest in the most qualified staff as its personnel to run its affairs and maintain an awesome working relationship with their many clients. The personnel ensures that each client’s needs have been solved ensuring an excellent customer experience.
On matters of credibility, this trader has all the licenses and regulation status on point by the relevant regulatory bodies in all regions it has its operations. Among the licenses it has acquired include:
- E Toro Europe has been licensed by the Cyprus Securities and Exchange Commission (CySEC).
- E Toro in the United Kingdom has been given a clean bill of operation by the financial conduct authority (FCA).
- Both the European and UK sections are governed by the markets in financial instruments directive (MiFID).
- E Toro in Australia is governed by the Australia financial services license (AFSL).
- E Toro in its bid to uphold its integrity and gain the much-needed trust from its clients has put up measures that ensure clients’ funds stored by them are in safe hands and very secure.
Among the measures put in place to ensure this include:
- Having separate bank accounts for the clients’ funds and also for their operational funds to prevent any mix up from happening.
- Clients’ funds are stored with the most credible banks which have a good working relationship with E Toro.
- E Toro is a member of a compensation scheme that will come through to sort out the clients in case of the rare occurrence of the company’s liquidation.
Minimum Initial Deposit
The minimum initial deposit varies according to your region. It ranges from $200 to $10000 and will serve as your base capital in your trading conquests as well as act as a shield in case of a loss on a trade.
If your account has been inactive for 12 months for depositing accounts and 4 months for non-depositing accounts, a fee of $10 will be charged. This will be incurred from your account’s fund balance.
Commissions And Spreads
E Toro account holders incur no commission at all. The spread type on offer is the floating type.
E Toro has its own customized trading platform that has been designed specially to meet its needs and also of its customers as a social trading platform. This platform is advanced and provides awesome tools that will allow you to execute trades hassle free. This platform comes in three operation modes which are:
- The E Toro webtrader.
- The E Toro OpenBook.
- The E Toro mobile platform.
The E Toro Webtrader
The E Toro webtrader is an advanced platform that will allow you to execute your trades over the internet. Among the perks of this platform include:
- Compatibility with a host of web browsers.
- Easy and fast execution of trades.
- User-friendly interface
- Awesome charting and drawing tools available.
The E Toro OpenBook
The E Toro OpenBook is a platform that will allow clients to connect and share ideas whilst executing their respective trades.
The E Toro Mobile Platform
The mobile platform was designed to take advantage of the growing popularity of mobile phone use. The mobile platform is accessible after downloading the application and signing in. among the benefits of this platform include:
- It is easy to use and free on download.
- It is compatible with a host of mobile operating systems such as Android and also ios.
- Provides excellent charting and drawing tools.
- Fast execution of trades.
The following are the promotions currently on offer at the E Toro platform.
- Referral bonus where you will earn a stipulated amount of bonuses on the referral of a client to E Toro.
- The affiliate program lets you earn an agreed upon commission by having their banners on your website.
Withdrawals And Deposits
Withdrawals and deposits to and from your account are very easy and you will use the agreed upon modes to deposit or withdraw. It accepts both debit and credit card and also e-wallet payments. Accepted modes include Skrill, Neteller, PayPal and visa among others.
BRIEFLY ABOUTE E Toro
In conclusion, this is a very credible trader offering special tendered services to all of its clients. A look at E Toro customer comments and reviews gives you a feeling of trust and professionalism. eToro is a great trader for both novice and experienced traders in the forex business
eToro Review 2020
Regulated By: ASIC, CySEC, FCA, MiFID
Foundation Year : 2007
Headquarters : Kanika International Business Center 7th Floor, 4 Profiti Ilia Street Germasogeia, Limassol, Cyprus
Min Deposit : $200
62% of retail CFD investors lose money
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